Enterprise M3 – one of the new Local Economic Partnerships (LEP) has retained Campbell Ventures to help them identify strategically important businesses in the LEP’s area. The Enterprise M3 LEP covers the wider M3 corridor from the New Forest in the South West to Staines in the North East, and includes major centres such as Andover, Winchester, Basingstoke, Woking and Guildford.
The Enterprise M3 area is home to over eighty six thousand registered businesses. In order for the Enterprise M3 LEP to understand how it can best support and develop the local economy it is key that they understand who and where the strategically important businesses are located. To do this Campbell Ventures has created a tool to assess and quantify the ‘strategic importance’ of a company in terms of its impact on the local economy. Mike Campbell, Managing Director of Campbell Ventures mentioned ‘it’s not just about identifying the large employers in an area but also other businesses that have demonstrated a strong track record of growth, product innovation, R&D collaboration as well as technical and market leadership.’ Many other factors are assessed by the tool which can assess and rank a company’s strategic economic contribution in a specific region. Mike Campbell went on to say ‘GVA (Gross Value Added) is often used to measure the economic output generated by a region but this approach has a major limitation in that it does not take into consideration the future economic growth potential, the quality of businesses in the local area and their mix. Without this information it is very difficult for any economic development organisation to develop and deliver business interventions that will have the greatest impact on an area.’
The strategic business assessment tool is believed to be the first of its kind in the world. Campbell Ventures has been retained by a number of economic development organisations across Europe over the last twelve months. The company’s international expertise in accelerating the growth of knowledge based businesses in emerging industry sectors (advanced engineering, life science, renewable energy, aerospace, financial and professional services) in Europe is seen as a core strength of the company.
Please contact Mike Campbell, Managing Director on +44 7771 615641 or firstname.lastname@example.org to find out more about Local Economic Partnerships and to discuss how this article could impact your business.